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Extra Census Bulletin.
No. 68. VV^ASHINGTON, D. C. March 31, 1894.
STATISTICS OF FARMS, HOMES, AND MORTGAGES.
OWNERSHIP AND DEBT IN VIRGINIA.
DEPAETMENT OF THE INTERIOR,
Census Office,
Washington, D. C, March 15, 1894.
SiE :
The leading results of the investigation of farm and home proprietorship and indebtedness in Virginia are
contained in this bulletin. In regard to farms, the conclusion is that 38.06 per cent of the farm families hire and
61.94 per cent own the farms cultivated by them; that 3.16 per cent of the farm owning families own subject to
incumbrance and 96.84 per cent own free of incumbrance. Among 100 farm families 38 hire their farms, 2 own
with incumbrance, and 60 without incu^mbrance. On the owned farms there are liens amounting to $3,394,303,
which is 47.60 per cent of their value, and this debt bears interest at the average rate of 6.06 per cent, making
the average annual interest charge $79 to each family. Each owned and incumbered farm, on the average, is worth
$2,747, and is subject to a debt of $1,308.
The corresponding facts for homes are that 72.14 per cent of the home families hire and 27.86 per cent own
their homes; that of the home owning families 95.93 per cent own free of incumbrance and 4.07 per cent with
incumbrance. In 100 home families, on the average, 72 hire their homes, 1 owns with incumbrance, and 27 without
incumbrance. The debt on owned homes aggregates $2,056,361, or 51.09 per cent of their value, and bears interest
at the average rate of 6.32 per cent, so that the annual amount of interest to each home averages $67. An average
debt of $1,056 incumbers each home, which has the average value of $2,067.
There are 9 cities in the class of those having a population of 8,000 to 100,000, and in these cities 76.74 per
cent of the home families hire and 23.26 per cent own their homes ; and of the home owning families 4.56 per cent
ow-n with incumbrance and 95.44 per cent own free of incumbrance. In 100 home families, on the average, are
found 77 that hire their homes, 1 that owns with incumbrance, and 22 that own without incumbrance. The liens
on the owned homes are 51.97 per cent of the vakie of those subject to lien. The average rate of interest is 6.57 per
cent; average value of each owned and incumbered home, $2,699; average lien on the same, $1,403, and average
yearly interest charge on each home, $92.
Real estate purchase and improvements, when not associated with other objects, caused 59.79 per cent of the
farm debtor families to incur 49.33 per cent of the farm debt and 70.01 per cent of the home debtor families to
incur 59.15 per cent of the home debt.
Very respectfuUj^
CARROLL D. WRIGHT,
Commissioner of Labor in charge.
The Seceetaey of the Intebiok.
C. O. p.— 3m
STATISTICS OF FARMS. HOMES, AND MORTGAGES.
OWNERSHIP AND DEBT IN VIRGINIA.
HY GE0RGI5 K. HOLMES AND JOHN S. I.ORP.
Selections from the results of the iavestigatiou of farm and home proprietoi'.ship and indebtedness in Virginia
ai'e presented in this bulletin. Every family is regarded as occupying a farm or a home not on a farm, and as
hiring such farm or home, or owning it free of incumbrance, or owning it subject to incumbrance. In tlie class last
named, and in no other, account has been taken of the incumbrance, its rate of interest and object, and the value of
the farm or home.
Habitation propkietoeship. — Among the .304,673 families of the state there are 174,531, or 57.28 per cent of
the total, that hire their farms and homes and 130,142, or 42.72 per cent, that own them. Of the families that
own, 4,543, or 3.49 per cent, have farm or home incumbrance and 125,599, or 96.51 per cent, are free of incumbrance.
In 100 families, on the average, 57.28 hire their farms or homes, 1.49 own with incumbrance, and 41.23 own
without incumbrance.
Farm pegprietgrship. — There are 132,790 farm families, which are 43.58 per cent of the total number of
families. Of these 82,256, or 61.94 per cent, own and 50.534, or 38.06 per cent, hire the farms cultivated by them,
while of the owning families 2,596, or 3.16 per cent, have incumbrances on their farms and 79,660, or 96.84 per
cent, have no incumbrances. The average 100 farm families are composed of 38.06 that hire, 1.95 that own with
incumbrance, and 59.99 that own without incumbrance.
In 1880 29.52 per cent of the farms were hired, so that there is an apparent relative increase of farm tenancy
during the decade; but the sources of the statistics for 1880 and 1890 are not the same, since the figures for 1880
rej)resent farms and those for 1890 farm families, and this may somewhat affect the comparison.
Home propeietgi»hip. — The 171,883 home families are 56.42 per cent of the families of the state, and are
divided into the several classes as follows: hiring families, 123,997, or 72.14 per cent of the total number of home
families; owning families, 47,886, or 27.86 per cent; families owning free of incumbrance. 45,939, or 95.93 per cent
of the total number owning; families owning subject to incumbrance, 1,947, or 4.07 per cent of the owning families.
Of 100 home families, on the average, 72.14 hire their homes, 1.13 own with incumbrance, and 26.73 own without
incumbrance.
City homes are hired in a greater degree than is found outside of cities. In the 9 cities of the state having a
population of 8,000 to 100,000 there are 43,779 home families, of which 33,597, or 76.74 per cent, hire and 10,182,
or 23.26 per cent, own their homes. Homes subject to incumbrance are occupied by 464 owning families, or 4.56
per cent of the total owning families, and 9,718 families, or 95.44 per cent of the owning families, have no home
incumbrance. In 100 of these city home families, on the average, 7().74 hire their homes, 1.06 own with
incumbrance, and 22.20 own without incumbrance. In Norfolk 85.62 per cent of the home families hire their
homes, and this is the largest percentage found among the 9 cities. Roanoke comes next with 78.74 per cent. The
smallest percentage is 63.45 for Alexandria, and next to this is 71.43 for Petersburg.
In the state outside of the 9 cities referred to 70.57 per cent of the home families hire and 29.43 per cent own
their homes, 3.93 per cent of the home owning families own with incumbrance and 96.07 per cent without
incumbrance, while among 100 home families, on the average, 70.57 hire their homes, 1.16 own subject to
incumbrance, and 28.27 own free of incumbrance.
Value and incumbrance. — Liens amounting to §5,450,(564 incumber the 4,543 owned farms and homes of the
state that are subject to incumbrance, $3,394,303 of which is on 2,596 farms and $2,056,361 on 1,947 homes. The
value of the incumbered farms and homes is $11,155,922 ; farms, 17,131,172 ; homes, $4,024,750. Ratios of debt to
value : farms and homes, 48.86 per cent ; farms, 47.60 per cent ; homes, 51.09 per ceut.
A debt of $650,805 incumbers 464 owned homes of the 9 cities containing a population of 8,000 to 100,000, and
these incumbei'ed homes are worth $1,252,172, so that the debt is 51.97 per cent of the value. The debt incumbering
the owned homes in the state outside of the 9 cities is 50.69 per cent of the value of the homes subject to the
incumbrance.
Y— - 3
FARMS, HOMES, AND MORTGAGES.
Average values and incumbrances. — The average owned and incumbered farm of the state is worth $2,747 ;
home, $2,067 ; of each home in the 9 cities, $2,699.
The average farm incumbrance for the state is $1,308; home, $1,056; home incumbrance in the 9 cities,
$1,403. Eappahannock county has homes of the highest average value, namelj^ $9,460, and the least average value,
$200, is in Powhatan county. In the state outside of the 9 cities the average home value is $1,870 ; incumbrance,
$948. As before stated, all values are confined to incumbered farms and homes occupied by owners.
Interest rates.— The chief rate of interest in this state is 6 per cent. This rate is paid on 97.00 per cent of
the farm incumbrance by 96.03 per cent of the farm debtor families ; on 82.70 per cent of the home incumbrance by
84.33 per cent of the home debtor families; in the 9 cities on 68.06 per cent of the home incumbrance by 67.89 per
cent of the families occupying owned and incumbered homes. These percentages are contained in the following
table, and the facts from which they were computed are exhibited in Table 3 :
PERCENTAGE OF FAMILIES OCCUPYING OWNED AND INCUMBERED FARMS AND HOMES
AND AMOUNT OF INCUMBRANCE THEREON, BY KATES OF INTEREST.
OF INTEREST.
Under 6 per cent
6 per cent
7 per cent
8 per cent
6 to 8 per cent, inclu
Over 6 per cent
Over 8 per cent
Over 10 per cent
Over 12 per cent
THE STATE.
For num-l
ber of
families.
0.31
96.03
0.27
2.12
98.54
3.66
1.15
0.23
0.04
0.26
97.00
0.38
1.23
98.85
2.74
0.89
0.06
0.00
For num-
ber of
families.
84.33
1.80
94.45
15.10
0.10
0.05
0.97
82.70
4.47
7.61
94.78
16.33
4.25
0.10
0.03
FOR HOMES IN
CITIES OF 8,000 TO
100,000 PEOPLE.
For
number For
of amount,
families. '
0.65
67.89
5.17
17.46
90.52
31.46
8.83
0.22
1.81
68.06
9.53
13.41
91.00
30.13
7.19
0.23
The highest rate reported is 16 per cent, which is paid by 1 home family on a debt of $500.
The legislature of Virginia has limited the rate of interest as follows in the years named : 1730, 6 per cent ;
1734, 5 per cent ; 1797, 6 per cent ; 1870, 12 per cent ; 1873, 8 per cent, but corporations not to interpose defense of
usury ; 1874, 6 per cent.
Interest charge and average rates of interest. — The total interest charge for 1 year on the debt
incumbering the owned farms of the state is $205,594 ; on the homes, $129,934. Total, $335,528.
The average interest charge for 1 year on each farm is $79 ; home, $67 ; on each home in the 9 cities, $92.
On farm loans the average rate of interest is 6.06 per cent ; on home loans, 6.32 per cent ; on home loans in
the 9 cities, 6.57 per cent. Hence the average annual interest value of each owned and incumbered farm, obtained
by multiplying the average value by the average rate of interest, is $166 ; of each home, $131 ; of each home in
the 9 cities, $177. Outside of the 9 cities the average annual interest charge on each home is $59 ; average rate,
6.20 per cent; average annual interest value, $116.
Objects of indebtedness. — Investigation of the reasons why farm and home indebtedness was incurred
discloses the fact that 59.79 per cent of the farm debtor families of the .state incurred 49.33 per cent of the farm
debt for the purpose of buying real estate and making real estate improvements, when these objects were not
associated with other objects, and that for the same objects, in the case of homes, 70.01 per cent of the home debtor
families incurred 59.15 per cent of the home debt; in the 9 cities, that 73.49 per cent of the home debtor families
incurred 66.08 per cent of the home debt.
The objects of real estate purchase and improvements, business, and the purchase of personal property, when
not complicated with other objects, led 67.53 per cent of the farm debtor families of the state to incur 58.82 per
cent of the farm debt, 82.79 per cent of the home debtor families to incur 78.83 per cent of the home debt, and 91.37
per cent of the home debtor families in the 9 cities to incur 91.40 per cent of the home debt.
Farm and family expenses, standing alone, are represented by 15.14 per cent of the farm debtor families of the
state and 12.05 per cent of the farm debt, family expenses by 7.19 per cent of the home debtor families and 3.98
per cent of the home debt, and family expenses in the 9 cities by 6.25 per cent of the home debtor families and 2.29
per cent of the home debt.
OWNERSHIP AND DEBT IN VIRGINIA. 5
Tahi.k 1.— number and PERCENTAGE OF FAMILIES OCCUPYING OWNED AND HIRED AND FREE AND INCUMBERED
FARMS AND HOMES.
1
PEKCENTAGE OF
PERCENTAGE OF
FAMILIES OWNING
PERCENTAGE OF
FAMILIES OWN-
CIVIL DIVISIONS.
Aggregate,
FAM
xa.
Families
hiring. '
FAMILIES
OWNING
INCUMBERED OF
TOTAL OWNING
FAMILIES.
INIUMDEEED OF
TOTAL OWNING
AND HIEING
FAMILIES.
Total.
Free.
bered.
Owning.
Hiring.
Free.
Incum-
bered.
Incum-
" "^^^ bered.
301,673
130,142
125,599
4,543
174,531
42.72
57.28
96.51
3.49
41.23
1.49
132,790
171,883
79,600
45,939
2,596
1,947
50,534
123,997
61.94
38.06
96.84
3.16
59.99
1.95
47,886
27.86
72.14
95.93
95.44
4.07
26.73
1.13
43,779
2,955
10,182
1,080
9,718
993
464
33,597
1,875
23.26
76.74
4.56
22.20
1.06
Alexandria, Alexandria county
87
36.55
63.45
91.94
8.06
33.60
2.95
Danville, Pittsylvania county
2,104
461
4.'i6
5
1 ,643
21.91
78.09
98.92
1.08
21.67
0.24
Lynchburg, Campbell county
3,893
917
890
27
2,976
23.56
76. 4t
97.06
2.94
22.86
0.7U
Manchester, Chesterfield county
1,672
451
451
3
1,218
27.15
72.85
99.34
U.66
26.97
0.18
Norfolk, Norfolk county
7,273
1,046
1,016
30
6,227
14.38
85.62
97.13
2,87
13.97
0.41
Petersburg city
5,048
1,442
1,369
73
3.606
28.57
71.43
94.94
5.06
27.12
1.45
Portsmouth, Norfolk county
2,561
591
553
38
1,970
23.08
76.92
93.67
6.43
21. .59
1.49
Richmond, Henrico county
15.625
3,628
3,535
93
11,997
23.22
76.78
97.44
2.56
22.62
0.60
Koanoke, Roanoke county
2,648
563
455
108
2,085
21.26
78.74
80.82
19.18
17.18
4.08
Rest of state (for homes)
128,104
37,704
36,221
1,483
90,400
29.43
70.57
96.07
3.93
28.27
1.16
a In the state of Virginia cities have a varying degree of independence of the county. Petersburg has been returned by the
The other cities have been returned as parts of the counties in which they are geographically situated.
iierators independently.
Table 3.— VALUE OF FARMS AND HOMES OCCUPIED BY OWNERS AND
INCUMBERED AND AMOUNT AND PERCENTAGE OF INCUMBRANCE
THEREON.
1
Number Percent-
li^esoX- ,, mcum- ^^
CIVIL DIVISIONS. i„g,,i„, value. , ,,,„,,. ^mcum-^^
"'«'""- value,
brance.
4,543 811,155,922 ] $5,450,664 48.86
2 596 7,131,172 3,394,303 '■ 47.60
1 947 4,024,750 2,056,361 ' 51.09
Nine cities (for homes)
Alexandria, Alexandria county
Danville, Pittsylvania county
Lynchburg, Campbell county
Manchester, Chesterfield county
Norfolk, Norfolk county
464 1,252,172 650,805 51.97
87 144,015 70,491 48.95 |
5 26,700 13,300 49.81
27 67. .300 42,475 63.11
3 11,300 2,300 20.35
30 214,200 110,272 51.48
73 91,881 49,923 54.33
38 117,400 49,217 41.92
93 483,375 i 201,100 ' 41.60
108 96,001 1 111,727 j 116.38
Portsmouth, Norfolk county
Richmond, Henrico county
Roanoke, Roanoke county
1,483 2,772,578 I 1,405,.556 1 50.69
FARMS, HOMES, AND MORTGAGES.
Table 3.-SUMMARY OF NUMBER OF FAMILIES OCCUPYING OWNED AND INCUMBERED FARMS
AND HOMES AND AMOUNT OF THE INCUMBRANCE THEREON, BY RATES OF INTEREST.
THE STATE.
RATES OF INTEREST.
Total.
For farms.
For homes.
100,000 PEOPLE.
Number
of
families.
Incum-
brance.
Number ^
of i ?,"'=""■
familie.s. oiance.
Number
of
families.
Incum-
brance.
Number
^ Incum-
families.! l'™"™-
4,513
$5,450,664
2,596 ' $3,394,303
1,947
$2,056,361
464 i $650,805
per cent
2 do
3 do
5 do
5-6 do
7
1
1
9
1
4,135
1
42
2
217
96
23
1
5
1
1
4,938
400
350
20,650
2,600
4,993,109
6,062
104,799
2,000
198,137
84,847
28,695
1,500
2,110
67
500
6 4,818
1
1
1
1
1,612
120
400
350
16,650
2,500
1,700,630
2 4,000
2 9,250
1 2,500
2,493 3,292,479
1 6,062
7 12,920
2 2,000
55 41,642
5 2,350
19 25,855
315 442,951
6-7 do
7 do
7-8 do
8 do
9 do
10 do
U do
12 do
14 do
16 do
35
91,879
24 62,000
162
91
4
1
156,495
82,. 197
2,810
1,500
81 87,287
40 45,317
1 1,500
5 2,110
1 67
; r:
\ 1
500
Table 4.— AMOUNT OF ANNU.^L INTEREST CHARGE AND AVERAGE
VALUE, INCUMBRANCE, ANNUAL INTEREST CHARGE, AND ANNUAL
RATE OF INTEREST FuR FARMS AND HOMES OCCUPIED BY OWNERS
AND INCUMBERED.
Average
annual
interest
charge
on eaclr
farm or
home.
The State $2,456
For farms ' 2,747
For homes 2,067
Nine cities (for homes) 2,699
Alexandria, Alexandria county 1,655
Danville, Pittsylvania county 5,310
Lynchburg, Campbell county 2,493
INIanchester, Chesterfield county 3,767
Norfolk. Norfolk county 7,140
Petersburg city 1,259
Portsmouth, Norfolk county \ 3,089
Richmond, Henrico connty 5,198
Roanoke, Boanoke county I 889
Restof state (for homes) I 1,870
205,594
129,934
1,403
42,744
92
6.57
81
4,207
48
5.97
2,660
798
160
6.00
1,573
2,519
91
6.00
767
138
46
6.00
3,676
7,479
249
6.78
681
3,135
43
6.28
1,295
3,899
103
7.92
2,162
13,818
149
6.89
1,035
6,691
62
5.99
948
87,190 j
59
6.20
\
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